Hydropower development a key part of PPC’s RES growth plans

Power utility PPC is determined to partner with private-sector companies for the development of new hydropower projects, both small and large-scale, as it also seeks to do with other investments, both in the renewable energy domain and beyond.

A critical question that arises, however, is whether PPC – currently holding talks with over ten private companies, according to chief executive Giorgos Stassis – also intends to contribute existing hydropower plants, not just new hydropower projects, to SPVs planned to be formed for renewable energy collaborations.

Stassis remained vague on this matter during his presentation of PPC’s new business plan earlier this week.

However, highly-ranked PPC officials, in comments to energypress, have ruled out the inclusion of any existing hydropower plants owned by the utility in any prospective SPVs to be co-founded with private-sector partners.

Whatever the outcome, PPC, for a number of key reasons, is looking deep into prospective hydropower collaborations.

The power utility wants to sharply increase its RES market share over the next few years, to offset its planned withdrawal of all existing lignite-fired power stations by the end of 2023. A RES market share of at least 10 percent, even 20 percent, up from a current level of 2.5 percent, by 2024, is being looked at.

PPC also wants to avoid European Commission pressure that could force a sale of hydropower units or lead to a compulsory surrender of hydropower production.